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Iowa Investment Fraud Attorneys

Wealth has always attracted fraudsters, which is why Iowa investors from the wealthier suburbs of West Des Moines and University Heights near Cedar Rapids should be vigilant in watching their investment accounts. Malecki Law is a national investment recovery law firm that represents investors across the nation, bringing lawsuits for financial fraud or negligence against some of the largest financial firms who failed to properly supervise customer accounts. Malecki Law’s investment fraud attorneys are well versed with the securities laws and have recovered tens of millions of dollars on behalf of investors and retirees of all backgrounds.

Seniors are often the most targeted group of investors because they are more isolated and tend to rely on others to manage their money. Malecki Law’s founder, Jenice L. Malecki, Esq. has  recovered  tens of millions of dollars for senior investors and retirees, and is a passionate advocate for serving the underrepresented, especially elderly  victims of financial abuse. This is an area that has received consistent scrutiny by federal regulators such as the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), as well as state regulators like the Iowa Insurance Division, which also has statutory authority over the sale of securities and other regulated products within the state.

In many of the lawsuits our investment fraud lawyers bring to trial on behalf of senior investors, insurance products like variable annuities, as well as alternative investments like non-traded REITs and leveraged ETFs, somehow end up in the retirement accounts of senior investors who have little understanding of what they are. Apart from the exorbitant fees and commissions associated with these products, brokers who recommend these products often have little understanding of what they are selling. This is why, for example, the Iowa regulator has fined financial firms like LPL Financial for failing to supervise the sale of non-traded REITS in customer accounts, sold in excess of the state’s concentration limits, the standards within a particular prospectus for a REIT, and in violation of LPL’s own investment policies and procedures. It is thus important to hire a broker fraud law firm that is familiar with these products, as well as the supervisory responsibilities of the firms that sell them.

A real estate investment trust, or REIT, is a legal entity owning income-producing real estate, such as office buildings, shopping malls, hotels, and apartments. A publicly traded REIT lists its shares on a securities exchange and the market establishes a fair value for the shares. In contrast, a non-traded REIT is opaque because it does not list its shares on any exchange and the true value of its shares may be obscured or misstated. Regulators have identified many investor protection concerns with non-traded REITs. Non-traded REITs pay abnormally high commissions and 10 to 15% (6-7% to the brokers) of investor assets may be immediately diverted to pay commissions, fees, and expenses. Dividends are not guaranteed because the distributions may be funded entirely or in part by new investor cash or borrowed funds – leveraged money that can place the REIT at greater risk of default and devaluation, including loss of the entire principal investment. Because non-traded REIT shares do not trade on national securities exchanges, they cannot be easily priced or sold. Unsophisticated investors have often been startled to discover that few willing buyers will purchase their shares. The Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) have not surprisingly issued numerous investor alerts warning about non-traded REITS. See, for example, FINRA Investor Alert, Public Non-Traded REITS - Perform a Careful Review Before Investing (2012).

If you have suffered investment losses in your retirement account and believe you have been sold non-traded REITs or other alternative investment products without proper disclosures of the risks, then you should contact the investment fraud attorneys at Malecki Law for a free initial consultation. Many of our customers choose a contingency arrangement instead of being billed hourly, meaning we do not get paid unless we make a financial recovery for you first.

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Testimonials From Former Clients
I highly recommend Jenice and her team at Malecki Law. I had a challenging, and lengthly case. Jenice was professional, very knowledgeable, and a pleasure to work with. She managed to make the process far less stressful during a very difficult time. They care about their clients, and it definitely shows. Mario
Jenice is truly a miracle worker and one of the top securities lawyers. She handled a very difficult case for us, displaying her legal knowledge, intelligence, and savviness throughout the process. I cannot recommend her enough. The quality of work from her team rivals that of corporate law firms. She was always available, extremely professional, and made sure to know all the details of the case. We were very fortunate to have been referred to Jenice and highly recommend her for any securities related legal issues. Nathan A.
An excellent professional who represented us in trial regarding a bank fraud, an unexpected and difficult time. A professional that worked hard, persevering and who stood toe to toe against firms that had a team of excellent lawyers backing them up. Her unflinching determination really stands out, it makes you feel you have someone who really cares about trying to recover what you lost from the people that wronged you. Salomon Levi
It is difficult to thank you in words when gratitude comes from the heart, so I will try to link feelings with writing. It is essential for us to mention your excellence as a professional, your aptitude on legal fields, and your unavoidable persistence. All of these virtues that elevate the profession you exercise in such an admirable way, go hand in hand with your sense of ethics, your human warmth and the transparency in your actions. To sum up, thank you for being a listening ear and for having the right word while transmitting information about the legal process. Having you as our representative during such an adverse situation was a privilege and enough reason for our eternal gratitude. Angeles Aparain
To say that my securities litigation was complex would be a severe understatement. With multiple parties involved and spanning many years, trying to understand the issues was daunting to say the least. Jenice and her team broke down the transactions by segment and by party uncovering every hidden expense. In the end, I was more than happy and could not thank Jenice and her team enough. I would not hesitate to recommend Jenice to anyone. She is highly professional, incredibly knowledgeable, well connected to industry experts, has a tireless work ethic and is so pleasant and easy to communicate with. Five stars for sure! Andrew Loughrane